Details of Property Funding

If you are buying or selling a house, our profit costs are based on 0.5% of the value of the property to be sold or purchased (exclusive of V.A.T.). However this is only a guidline and our profit costs may be lower than or greater than this rate, although we will inform you of our estimated costs at the outset of the matter.

Remember that expenses will be payable of which the following are non-exhaustive examples:

 

Property Costs
  1 Fees for mining search etc, local authority search, environmental search, drainage search against the sellers and buyers names.
  2 Telegraphic transfer fee for sending the money on completion to the seller's solicitors.
  3 Land registry fee for registering yourselves as the new owners.
  4 Land registry fee for a copy of the register.
  5

It is important to note that stamp duty may be a considerable expense and is calculated as follows:

  • nil if the price of tcerty does not exceed £60,000
  • 1% of the price of the property if the price is higher than £60,000 but less than £250,000.
  • 3% of the price of the property if it exceeds £250,000 but not £500,000
  • 4% of the price of the property if it exceeds £500,000.

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